Annual salary plus bonus data for chief executive officers are presented in the BusinessWeek Annual Pay Survey.

Question:

Annual salary plus bonus data for chief executive officers are presented in the BusinessWeek Annual Pay Survey. A preliminary sample showed that the standard deviation is $675 with data provided in thousands of dollars. How many chief executive officers should be in a sample if we want to estimate the population mean annual salary plus bonus with a margin of error of $100,000? (Note: The desired margin of error would be E 100 if the data are in thousands of dollars.) Use 95% confidence.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Economics

ISBN: 9780324783247

11th Edition

Authors: Thomas A. Williams, Dennis J. Sweeney, David R. Anderson

Question Posted: